VP Acquisitions, Multifamily
- Broadstone Real Estate LLC

Broadstone Real Estate, LLC (“BRE”), a full-service real estate company that serves as the sponsor and asset manager of two private real estate offerings, is seeking a Vice President of Acquisitions for the Residential Division. Broadtree Residential, Inc. (“Broadtree”), one of the company’s sponsored REITs, owns over 1100 multifamily residential units, with the expectation that operations will continue to expand. BRE is an established real estate investment and management company that also manages more than 500 commercial properties in 40 states for Broadstone Net Lease, Inc.

The Vice President of Acquisitions will originate, manage and close multifamily residential real estate acquisition transactions for Broadtree. The ideal candidate will bring experience and expertise in sourcing, underwriting and negotiating the acquisition of multifamily apartment assets. He or she will be adept at handling high-level owner and broker communications, relationships and negotiations, and will be able to work independently and in collaboration with others to achieve a very high level of success in identifying and negotiating terms for accretive transactions. This person must be exceedingly well organized, flexible and able to travel without significant notice. Requires deal sourcing, financial analysis & modeling capabilities, and internet research skills. Excellent interpersonal skills, project coordination experience, and the ability to work well with all levels of internal management and staff, as well as the national brokerage and property owner community are required. This position reports to the President & COO of BRE’s Residential Division and can be based in Rochester, NY (BRE Headquarters) or Atlanta, GA or Charlotte/Raleigh, NC (BTR’s target acquisition markets). This is an opportunity to play a lead role in a vibrant and rapidly growing organization, with access to the resources and reputation of a successful parent company.

Essential Job Duties and Responsibilities:

Weekly updates (via pipeline reports) for the Residential Team and Investment Committee

Source acquisition targets and bring prospective accretive transactions to the President & COO for initial approval and then to the Investment Committee and Board of Directors for final approval

Responsible for accurate financial models, projections, and analyses on prospective property acquisitions including property operational underwriting and return on investment modeling, either through preparation or review

Prepare strategy and investment recommendations through written and oral presentations

Responsible for the preparation of thorough Investment Committee and board packages

Participate in transaction Due Diligence process through site inspections, review of 3rd party reports, seller financial statements, etc. while maintaining positive and productive communication with seller

Cultivate strong relationships with external commercial brokers and prospective property sellers to gain access to off-market transactions as they become available

Responsible for analysis of market conditions impacting acquisition and disposition opportunities, either through compilation or review

Further develop current industry relationships and proactively build new relationships and potential deal-sourcing networks in support of the acquisition and investment strategy

Identify national conferences and other opportunities for increasing industry exposure through attendance, networking and/or participation

Present at high level meetings and industry events

Work with brokers to manage property dispositions

Prioritize and manage multiple projects simultaneously and follow through on issues in a timely manner

Professional office environment with routine use of standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machine; noise level typical of a standard office environment

Prolonged sitting, computer and telephone use, as well as standing, filing, stooping, bending, reaching and lifting and carrying up to 15 pounds

Ability to travel by airplane, train and car with ability to drive a motor vehicle

The above description is not intended to define, in detail, the multitude of tasks that may be assigned, but rather to provide a general sense of the responsibilities and expectations of the position. As the nature of business demands change, so too may the functions of this position.